The crowdfunding campaign attracted widespread support from local residents, businesses and had backing from a range of celebrities including local superstar DJ FatBoy Slim, Chris Evans, Eddie Izzard, Steve Coogan, Charley Boorman and Damon Hill.

Council Leader Warren Morgan, who initiated the crowdfunding campaign said: “The suggestion to crowdfund came from residents following the rejection of the bid for a government grant earlier this year. It was an ambitious idea and a step into the unknown, but the option to do nothing wasn’t something we were prepared to do.

“Together, with the city’s residents, businesses, VisitBrighton and heritage organisations we’ve taken the first and crucial step in saving a valued part of our local heritage.

“I will not stop praising Jax Atkins and her team of local volunteers, all the artists, shops, small traders and others who donated prizes, everyone who bought raffle tickets and the shops that sold them, raising an incredible £16,700+. This incredible backing from the community and businesses means we are in a much better position to submit our Heritage Lottery Fund bid, which we will initiate tomorrow.

“I want to say a huge thanks to all the companies which responded to our request to donate, and to the 2000 residents, visitors and people who love Brighton & Hove and made individual donations. It’s been a tense but exciting four month campaign but we’ve done it!”

Soho House and Brighton Seafront Regeneration made the final pledge of £50k which took the fund over the line. Nick Jones, Founder & CEO of Soho House said: Helping with the Save Madeira Terrace fund was important for Brighton Seafront Regeneration and Soho House, as part of the future of the seafront. Over the last year we’ve been getting to know the local community. We’re looking forward to seeing the area returned to its former glory, with the iconic arches restored, so we can create something for the people of Brighton.”

Niraj Dattani, Head of Partnerships, at the council’s crowdfunding partner Spacehive added: “The Save Madeira Terrace campaign has been the biggest campaign we’ve ever seen and it has been fantastic to see how it’s brought the city together. With over 2100 backers and many more raffle tickets bought by the public, the campaign has generated civic pride on a huge scale.

“This enthusiasm has been matched by Brighton's business community, who have pledged tens of thousands of pounds to the campaign. The campaign also demonstrates the council’s pioneering approach to engaging with and delivering for its communities.

“The Madeira Terrace campaign shows what's possible when everyone comes together to improve the city. Brighton is full of creativity and passion, and working with everyone involved has been amazing.”